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Pakistan to Receive $12 Billion World Bank Loan

The World Bank has approved $12 billion in loans to Pakistan over the next five years to boost the country's struggling economy.Pakistan's Finance Ministry said Friday that $1 billion will be transferred to the country in the next week. The ministry says the loan will carry an interest of two percent and the funds will target the energy, education and security sectors.In announcing the loan package, the World Bank's South Asia Region vice president said Pakistan's government...

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